Bitcoin sneaks into the Winter Olympics

The 2018 Winter Olympics will be a big topic for discussion for the next two weeks and there is a team that the cryptocurrency community can invoke in South Korea. ]

Just as Cool Runnings made famous the first Jamaican bobsleigh team, the last edition of the Winter Olympics will see the American luge team become champion of Bitcoin, which could be a first for cryptocurrency in this sport.

The USA Luge Foundation has been campaigning for donations in Bitcoin on Medium since December 2017. Although they can not wear any sponsor logo at the Olympics, the team has promised to promote cryptocurrency Pre-eminent in upcoming competitions, according to Bitcoin

The team claims to be the first US Olympic group to set up its own Bitcoin wallet to accept donations. This is a movement that is synonymous with sledding, high speed and danger.

The American sled doubles the silver medal and Gordy Sheer, the current marketing director of Luge USA, said the endowment is natural.

“You know, we hear a lot of jokes about luggers who are crazy, and people do not know why we do it, but sledging is something that gets into your blood and transforms your life and the Bitcoiners we met know exactly what it’s like to be in something the world does not like yet.We watched Bitcoin harshly, and it’s definitely a risk – reward that we understand and that we are eager to take. “

One of the earliest donors to the US Luge Fund was the former luge Olympian and Wall L & # 39; Street investor Ty Danco – who considers the fund as the perfect investment for the next two Olympic Winter Competitions over the next eight years.

“C & # 39; is a natural and perfect choice for the team. The luge team does not think in the short term, but in the long run. By hoisting Bitcoin for the express purpose of keeping the Olympic Games of 2022 and 2026, the sport hopes to change the underfunding in order to be able to support complete teams at the level of the World Cup at the same time as developing basic programs to develop the athletes. . Bitcoin is still only in its infancy, and it is relying on USA Luge to be both brave and prescient to steer this wave.

Champions of Bitcoin

The team also promised to include Bitcoin logos and decals on its kit and equipment in the future – depending on the amount of Bitcoin they will receive in their fundraising initiative.

5 BTC – The Bitcoin logo will appear on the team hats.]

10 BTC – CIT top, including the Bitcoin logo stitched on all outerwear for the 2018 season (excluding the Winter Olympics)

25 BTC – All of the above, including the Bitcoin logo two seasons

50 BTC – All of the above, with the Bitcoin logo on sleds for the next four seasons.

100 BTC – All of the above, including the Bitcoin logo at Exclusion of the Olympic Games.)

Tongue in the cheek, the team promised to e “Find Satoshi, and put it on a sled” they raised 21 mln of Bitcoin, which is of course the maximum amount of Bitcoin that can be extracted.

Advertising in the sport

The Luge team is not exactly the best-known team in the biggest sport, the possibilities of its campaign Bitcoin fundraising / advertising might well start a trend for the cryptocurrency community.

and it is surprising that we have not seen more ICO and more established Blockchain and cryptocurrency companies sticking their marks to all sports teams.

There are already a number of crypto-money betting platforms. play online with cryptocurrency. Coupled with strong advertising of various virtual currencies, it would not be surprising to see more of these cryptocurrencies springing up on team jerseys, motor vehicles and many more.

Accepting Ethereum Seller in Pyeongchang

Since South Korea has been a cryptocurrency trading hub in the last 12 months, you would expect more sellers accept virtual currency for their products at the current Winter Olympics in Pyeongchang Province

Forbes, there is a ski rental shop near the Olympic Village that accepts Ethereum as a method of payment . Given the low transaction costs and the “universal” nature of Ethereum, it is surprising that more suppliers are not doing the same thing.

According to Forbes, other vendors should use the Coinduck payment platform. accepts Ethereum payments and pays Korean sellers who are also paid.

Do not expect to hear about it during the Olympics, but the fact that people are actively using cryptocurrency during massive world events like the Olympics shows the power of technology.

Those who have adopted cryptocurrency can avoid having to visit a bureau de change. Trading with virtual currencies while traveling may well become a massive use case in the future.